Cedar Fair is a master limited partnership that operates amusement parks, the most famous being Cedar Point in Sandusky, OH. The company has 3 sources of revenue: food & games,admission tickets, and hotel lodging. None of these will hold up in a recessionary environment, especially in the Midwest, the company's strongest area and the one most hit by the country's economic downturn. Same park slaes inched up 4% year over year.
The most recent 10-Q explains that their costs are fixed. That's bad news when revenues are flat or dwindling.
There is a massive yield, but then again, all MLPs have them, that's part of their financial structure .
$23.47 (05/21/08)
